Spain has been badly hit by the Coronavirus pandemic. The clubs are facing financial crisis as they have stopped receiving matchday earnings and sponsorship fees.
Barcelona and Atletico Madrid have already put the wage reduction schemes in action to ensure all the non-playing staffs are paid 100% of their salary.
According to AS, Real Madrid were holding off from drastic cost-cutting measures as the board considered the club’s financial position to be strong enough to withstand the initial impact of the pandemic.
But now, Real Madrid has followed the same path, though they have implemented minimum wage reductions. The players and coaches from Real’s first-team football and basketball squads along with other main executives have voluntarily agreed to lower their salary. They will forfeit between 10% to 20% of their wage, depending on how circumstances impact the finalising of the 2019/20 campaign.
Real Madrid released a statement: “The wage reductions will be between 10 and 20 per cent depending on the circumstances that may affect the closing of the 2019-20 season. This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers, as well as contributing to the economic objectives of the entity in view of the decrease in income that it is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities.”
“The club’s business committee strongly supports this decision, which it considers responsible and exemplary. Real Madrid is proud of all those who make up this great family and of its unwavering culture of values, which is especially valuable in difficult times such as these.”
“In the same way, Real Madrid, its members and fans, want to show all their love and solidarity to those who have suffered the direct consequences of this disease that is hitting us all, especially those who have lost a family member or loved one.”
“The club wishes a quick recovery to all the sick people and wants to transmit its deepest gratitude to all the people who are playing an essential, exemplary and solidary role in the fight against COVID-19.”
“From Real Madrid, we offer all our support and strength with the conviction that together we will overcome, without a doubt, this difficult moment.”
Real Madrid midfielder Toni Kroos wrote on Twitter: “From the first moment, my opinion, you know me well, is this: if we can help the workers and areas of the club, I see it as logical to renounce part of our salary, something that could be proven today.”
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